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it is investment led economy. export sectors are suffering because they represent the largest number of jobs really in the economy. and labor and jobs really for china is very important and very key. so that we will see policies addressing the unemployment issue. and certainly in europe, policies do need to ensure that the unemployment figure has come down. it probably won't be in the next year or so, but certainly in the medium for longer term, we need to make sure that the labor issue is addressed both sides of the atlantic. >> no one has patience for anything that takes more than a couple of days at this point it would seem. thank you very much for joining us this morning. >>> with some corporate news, profit at china's top pc maker grew at its slowest pace this more than two years in the second quarter. gentlemen, lenovo netted higher than roit estimates. shares were done ahead of the earnings release and you can see down about 2.7%. and fresh data from japan suggests the world's third biggest economy is inchi
it is investment led economy. export sectors are suffering because they represent the largest number of jobs really in the economy. and labor and jobs really for china is very important and very key. so that we will see policies addressing the unemployment issue. and certainly in europe, policies do need to ensure that the unemployment figure has come down. it probably won't be in the next year or so, but certainly in the medium for longer term, we need to make sure that the labor issue is...
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Nov 9, 2012
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this is more related to the economy. that is where you expect fiscal pressure to be applied. this makes perfect sense. >> where am more optimistic about consumer names. first of all he is getting long the at the money put. that is fantastic. he is only spending a quarter of the width of the spread. i don't agree with the stock this is a great thing. >> you have to believe is one or two of the following things. >> i think americans think about the fact that they may be paying 2%, 3%, 4% more in taxes. americans make their money on transaction volume. >> california voted in the tax increase. you have a lot of wealthy individuals. i carry american express card. does that effect my spending? yes, it does. >> let's bottom line this all. >> as the old addage would say don't leave home without it dan's put spread limitt suggests $125 and offers a four to one payout. moving on to the next trade call it the battle of the big box retailers wal-mart and home depot report earnings next week. this comes amid a massive storm here in the northeast. how should you repay? let's call to the ch
this is more related to the economy. that is where you expect fiscal pressure to be applied. this makes perfect sense. >> where am more optimistic about consumer names. first of all he is getting long the at the money put. that is fantastic. he is only spending a quarter of the width of the spread. i don't agree with the stock this is a great thing. >> you have to believe is one or two of the following things. >> i think americans think about the fact that they may be paying...
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Nov 14, 2012
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economy. second is financials. after that, it's pretty much the big global, industrial, and material stocks that are do the downside. we have lost 1100 points in the do dow in the last three weeks. that's a drop of a little more than 8% since we hit the high. i think that was the first week of october. right now the dow is only up 3% on the year. we've had a lot of damage in tech and the big global industrials. it all started when the president simply dug in his heels on the idea of raising tack rates for the wealthy. he specifically said raising tax rates will not break the backs of the wealthy. that was a quote widely distributed on trading desks. >> that certainly was the leadership on this acceleration. >> so what will grow this economy then? you know, there's a feeling that it doesn't matter what's in this compromise to fix the fiscal cliff as long as they get past it and this economy can grow again and the markets go higher again. is that naive? >> i don't think so at all. we're going to see some stabilizatio
economy. second is financials. after that, it's pretty much the big global, industrial, and material stocks that are do the downside. we have lost 1100 points in the do dow in the last three weeks. that's a drop of a little more than 8% since we hit the high. i think that was the first week of october. right now the dow is only up 3% on the year. we've had a lot of damage in tech and the big global industrials. it all started when the president simply dug in his heels on the idea of raising...
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Nov 15, 2012
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when you came out with your plan initially, the fed had pumped all this money into the economy. how do things change since then? we're going to get back to that. first, let me get back to headquarters. there's a lot of stock stories in the after hours. we want to bring them to you. here's a quick market flash. >> that's right. nike announcing a two-for-run stock split and dividend boost. that's up as a result. gap reports earnings per share of 63 cents, in line with expectations. better than expected revenue. they also upped their earnings guidance. pc maker dell misses by a penny on the bottom line. that's the fourth straight quarter of profit decline. that's a big one. we're going to continue to watch that. you can see shares have now fallen in the after hours trading, down a percent. maria. >> all right, court. thanks very much. our special "rise above" edition of the "closing bell" continues. we have alan simpson and erskine bowles here with me in the house. later, we'll get a reaction from etna ceo on the debt. wait until you hear their fiscal cliff contingency plans. back
when you came out with your plan initially, the fed had pumped all this money into the economy. how do things change since then? we're going to get back to that. first, let me get back to headquarters. there's a lot of stock stories in the after hours. we want to bring them to you. here's a quick market flash. >> that's right. nike announcing a two-for-run stock split and dividend boost. that's up as a result. gap reports earnings per share of 63 cents, in line with expectations. better...
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Nov 12, 2012
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chinese economy is stabilizing right here. they have inflation wliped. 2013 should be better for the people's republic than 2012. china's small stimulus is working and the best way to play it is with the fxi. i'm going to ron in california right now. ron? >> caller: big boo-yah, too you, jim from south orange county, california. >> man, i love south orange county. i love the university system down there, too. i like irvine. >> caller: before i get started, i just want to say that we're thinking about you and your family and for that matter everybody in the studio audience and their family, hope everybody came out in that horrible storm. >> we got lucky. others are not. i know they appreciate your thoughts. thank you. >> caller: you're quite welcome. my question is pertaining to the chinese economic situation. what do you feel would be a better buy either las vegas sands or wynn resorts? >> i think that steve wynn is a winner. i don't say that to be, you know, glib. i think you want to own wynn here. i say that if it got to the
chinese economy is stabilizing right here. they have inflation wliped. 2013 should be better for the people's republic than 2012. china's small stimulus is working and the best way to play it is with the fxi. i'm going to ron in california right now. ron? >> caller: big boo-yah, too you, jim from south orange county, california. >> man, i love south orange county. i love the university system down there, too. i like irvine. >> caller: before i get started, i just want to say...
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Nov 9, 2012
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economy is definitely on an upward 2r5 jtrajectory. i just hope and believe that that will ten so i'm positive about the u.s. >> okay, thanks for joinings us. >>> coming up, we'll be live in chicago. plenty coming up on the docket. economic growth. if america goes over the fiscal cliff, the economy will return to recession and unemployment will go over 9%. president obama is scheduled to make his first address to the public since his re-election today. 1:00 p.m. from the white house. and it will be regarding the economy and the deficit. so joining us to make sense of all of these various cross currents is todd horowitz. todd, on top of investors minds is whether dividend rates are going up. >> you know, dividend rates are going to do what they're going to do. and they're going to solve this fiscal cliff. this is again another employ between the two parties waiting until the last minute and they'll ride in on the 11th hour and say we've solved the problem or we'll kick the can down the road for another couple of years. this is not going
economy is definitely on an upward 2r5 jtrajectory. i just hope and believe that that will ten so i'm positive about the u.s. >> okay, thanks for joinings us. >>> coming up, we'll be live in chicago. plenty coming up on the docket. economic growth. if america goes over the fiscal cliff, the economy will return to recession and unemployment will go over 9%. president obama is scheduled to make his first address to the public since his re-election today. 1:00 p.m. from the white...
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Nov 9, 2012
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saying, president obama set to lay down his starting points on the fiscal cliff debate and what the economy needs to stay in recovery mode. a setting rich in theater coming just hours after the speaker of the house, boehner, made his case. >> indeed he did, ty. thank you. i'm sue herera, along with my partner tyler mathisen. john harwood and eamon javers are in washington as we countdown to the president's statement in a few minutes. we're hearing that the white house has invited congressional leaders for a meeting at the white house next week on the fiscal cliff. that seems to mean, john, to me anyway, a little bit of progress. what type of tone do you expect, john, the president to take in this next address? >> sue, i expect him to be conciliatory and reaching out to republicans the way john boehner has tried to strike that mode on capitol hill. two different white house specialists just told me the president will walk out here and announce he's invited the bipartisan leadership of congress to the white house next week to begin talks on the fiscal cliff. i have to think there is a possibi
saying, president obama set to lay down his starting points on the fiscal cliff debate and what the economy needs to stay in recovery mode. a setting rich in theater coming just hours after the speaker of the house, boehner, made his case. >> indeed he did, ty. thank you. i'm sue herera, along with my partner tyler mathisen. john harwood and eamon javers are in washington as we countdown to the president's statement in a few minutes. we're hearing that the white house has invited...
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Nov 16, 2012
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which part is weak ne weakest in the economy. it's been down more than you would think. i agree no one expected this from the storm -- >> well, they blame the storm too. >> i would like to know the profit pictures to make the right investment call based upon how bullish did you get for a post fiscal cliff agreement? >> very quickly, you got to make money here. what do you do? >> home building stocks are the number one group thus far this year. you want to go back to your technology. apple, that thing is down over 25% now. buy some apple. buy it on a scale down basis. average down on apple. that would be one thing. oracle is another one. that is at the basis. and qualcomm. those three, bill. >> okay. jeff? >> looking to hedge where the s&p 500 may go. looking at holding some cash. also looking at some opportunity where is they're emerging. oil, for example, on mideast conflicts starting to lift higher. that might be an opportunity. >> just like to wish xi jinping, the new president of china, all the best. may he have success, soci
which part is weak ne weakest in the economy. it's been down more than you would think. i agree no one expected this from the storm -- >> well, they blame the storm too. >> i would like to know the profit pictures to make the right investment call based upon how bullish did you get for a post fiscal cliff agreement? >> very quickly, you got to make money here. what do you do? >> home building stocks are the number one group thus far this year. you want to go back to your...
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Nov 11, 2012
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this is more related to the economy. that is where you expect fiscal pressure to be applied. this makes perfect sense. >> i'm more optimistic about consumer names. let's look at the option trade. first of all he is getting long the at the money put. that is fantastic. he is only spending a quarter of the width of the spread. that makes a ton of sense. then when you get to go out more than two months and do that, the whole thing makes a tremendous amount of sense. i don't agree with the stock but if you agree with his point of view on the stock, this is a great thing. >> you have to believe is one or two of the following things. at the high end consumer will pull back on spending, so the transaction volumes will go down or the high-end consumer will have increased defaults or delinquencies. is that critical to american expre express? >> i think americans think about the fact that they may be paying 2%, 3%, 4% more in taxes. american express make their money on transaction volume. >> the most populated state in the country, california voted in a tax increase with prop 30. you h
this is more related to the economy. that is where you expect fiscal pressure to be applied. this makes perfect sense. >> i'm more optimistic about consumer names. let's look at the option trade. first of all he is getting long the at the money put. that is fantastic. he is only spending a quarter of the width of the spread. that makes a ton of sense. then when you get to go out more than two months and do that, the whole thing makes a tremendous amount of sense. i don't agree with the...
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Nov 15, 2012
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, a slow down, yes, but we expect the european economy and especially the german economy to slowly start picking up again in the first quarter of next year and solidifying it. we live a bit on hope, but that's what we take home from here. in terms of the reactions like wide, i think there were no that is ter ser prices. we know exsports have weports h but construction industry has picked up again. consumer demand is still relatively high. christmas expectations are relatively good. clearly running out of steam with a bit of hope steam picks up against next year. >> i just wonder if there isn't a silver lining or perverse way in which the weakening is a benefit from the point of view of eurozone integration because it will make it easier for the eu to press ahead -- i'm sorry, the ecb to press ahead perhaps with some of the measures that will be more supportive for the periphery. arguing now it has to do more to support growth more broadly without having to worry so much about push backs from the german people. >> i wonder if that is not a short lived benefit as it were. can it really be
, a slow down, yes, but we expect the european economy and especially the german economy to slowly start picking up again in the first quarter of next year and solidifying it. we live a bit on hope, but that's what we take home from here. in terms of the reactions like wide, i think there were no that is ter ser prices. we know exsports have weports h but construction industry has picked up again. consumer demand is still relatively high. christmas expectations are relatively good. clearly...
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Nov 15, 2012
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or even if there is a moderate deal and downward pressure on the economy in the first half of 2013, yields are going to go down for u.s. treasuries, high-grade market backed securities. you are going to benefit from that. the euro's downward move is going to get accelerated because the dollar will be king under those circumstances. >> what about etfs? is it obviously matters right now how things are taxed and etfs are considered more tax officials. >> they are considered more tax efficient. they are going tonight beneficiaries of any of these tax related fears that are there, mandy. but i would argue to set aside the tax aspect they are going to all benefit from it. the final point in terms of what you need to be prepared for -- gold price. we have seen that coming down. we saw that go down quite a bit. i've been very bearish on gold price for the last year and i think we are going well below $1,600. >> that's quite a lot of everything being thrown out with the kitchen sink. thank you very much. >>> remember the race to $1,000 a share between apple, google and priceline? it may now be a ra
or even if there is a moderate deal and downward pressure on the economy in the first half of 2013, yields are going to go down for u.s. treasuries, high-grade market backed securities. you are going to benefit from that. the euro's downward move is going to get accelerated because the dollar will be king under those circumstances. >> what about etfs? is it obviously matters right now how things are taxed and etfs are considered more tax officials. >> they are considered more tax...
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the japanese economy is becoming worse while the chinese economy is on the mend. the kospi ended at 1900 providing good resistance, however, it dropped about 0.2%. the s&p asx down 0.3%. htc in taiwan was a major outperformer. at 241 new taiwan dollars. and this is because it announced a global patent settlement and a ten year licensing contract with apple. this is significant because this is the first company the taiwanese company that apple filed suit against. and while it's a good sign in the smartphone patent wars, we know that there's much more at stake between apple and samsung. so analysts say don't hold your breath too much. these wars are far from over. >> i think you're right. dee, thanks for that. just over an hour and a quarter into trading. weighted to the down side, a little bit more than 6:4 at the moment. last week losses 1.68% for the foot city, cac well over 2%. ftse up 7, ex-have a dax down 11. ibex down three quarterses of a percent, as well. there are a couple of stocks worth looking at this morning. here we go. bank popular up 5.25%, sas up 2
the japanese economy is becoming worse while the chinese economy is on the mend. the kospi ended at 1900 providing good resistance, however, it dropped about 0.2%. the s&p asx down 0.3%. htc in taiwan was a major outperformer. at 241 new taiwan dollars. and this is because it announced a global patent settlement and a ten year licensing contract with apple. this is significant because this is the first company the taiwanese company that apple filed suit against. and while it's a good sign...
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and establishing conditions for the economy to grow. because we can argue all we want about what's the right marginal rate, do you do it through deductions or do you it on the rate side. wouldn't it be nice if we actually got another couple percentage points of growth? that would do an extraordinary amount of good in terms of the revenue side. so -- >> exactly. >> i also don't think we're having enough attendant conversations about the spending side. so i would like to see a little bit more discussion about other aspects of this, how you establish conditions for growth, what you do on the spending side in addition to just this tax debate which seems to be taking all of the energy. >> hopefully they will listen to you. you never know. that may and number those ceos at the white house suggested the same thing. liz ann, thank you. >>> our coverage out of schwab impact 2012 continues online. is it good to invest during uncertain times? we just talked about that a little bit. check out the investorsummit.cnbc.com to find out. maria will be h
and establishing conditions for the economy to grow. because we can argue all we want about what's the right marginal rate, do you do it through deductions or do you it on the rate side. wouldn't it be nice if we actually got another couple percentage points of growth? that would do an extraordinary amount of good in terms of the revenue side. so -- >> exactly. >> i also don't think we're having enough attendant conversations about the spending side. so i would like to see a little...
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Nov 13, 2012
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where does the economy pick up steam? because it's pretty clear, they start talking yesterday about increasing taxes on real estate transactions, on property. so it's not going to be in construction. so if it goes to a consumer-based economy, you know, first of all, let's talk about that. let's go to consumer-based economy, are they successful in doing it, whereas europe hasn't been able to turn it around, much more experienced at capitalism. the u.s. is having problems turning it around. certainly we're more experienced. why do you have so much faith that the chinese can do it, whereas the other fully developed countries couldn't do it. >> first of all, we're not necessarily looking for much of a pickup. we're just looking for growth to stabilize around the 7.5 to 8% level. which is a high level by global standards. >> it's a low level by chinese standards. let's put it in perspective. >> but that's also because the economy is getting bigger and you can't, therefore, have 10, 11% growth for the rest of time. it's an econ
where does the economy pick up steam? because it's pretty clear, they start talking yesterday about increasing taxes on real estate transactions, on property. so it's not going to be in construction. so if it goes to a consumer-based economy, you know, first of all, let's talk about that. let's go to consumer-based economy, are they successful in doing it, whereas europe hasn't been able to turn it around, much more experienced at capitalism. the u.s. is having problems turning it around....
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Nov 13, 2012
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is stimulating or trying to stimulate the economy. and this kind ever environment is good for gold much as india we expect the same scenario very possibly to be unfolding shortly in the united states and in europe where the quantitative easing policies aren't really working to stimulate the economy or they're doing really creating inflation. probably what the countries have to do in order to avoid a debt default because most countries have lost control of the debt situation. so the only way to avoid the default in our view would probably be to print to devalue the debt but this real terms, that means inflation. so inflation is very much the main focus of gold for us and that's yes with think it will go a lot higher from here. >> martin, what then is your price target for gold by the end of, say, 2013? >> firstly we don't sell short price targets. we've seen this 2008 that sometimes also what many people should actually see or recognize earlier possibly as a safe haven, sometimes they can also take a hit if you have shorter term deleve
is stimulating or trying to stimulate the economy. and this kind ever environment is good for gold much as india we expect the same scenario very possibly to be unfolding shortly in the united states and in europe where the quantitative easing policies aren't really working to stimulate the economy or they're doing really creating inflation. probably what the countries have to do in order to avoid a debt default because most countries have lost control of the debt situation. so the only way to...
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Nov 14, 2012
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he insists his planned reforms will turn the economy around. but in a high-profile blow to those presidents, gerard is the latest frenchman to flee the country because of the high income tax increase. stephane has more in paris. as we look at some pictures, how has this gone down in the rest of france? are they viewing this as a criticism of the french tax system or of him? >> it's all about francois hollande. he explained the policy of the government, including fiscal policy. there's not much room for depardieu this morning. but it's not a big surprise. it's one less paying taxes in france as a result of the new tax policy implemented by the socialist government. it's a report from the belgium newspaper, which is reporting that gerard depardieu brought a property in a small village located just by the french border, and plans to escape the tax implemented by the government. the mayor of the village was unable to confirm that gerard depardieu bought a home in the village. it wouldn't be surprising, though, because this small village already has
he insists his planned reforms will turn the economy around. but in a high-profile blow to those presidents, gerard is the latest frenchman to flee the country because of the high income tax increase. stephane has more in paris. as we look at some pictures, how has this gone down in the rest of france? are they viewing this as a criticism of the french tax system or of him? >> it's all about francois hollande. he explained the policy of the government, including fiscal policy. there's not...
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Nov 12, 2012
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america's economy literally being held hostage, many say, by washington and as the clock ticks down we're holding lawmakers' feet to the fire. congresswoman allison schwartz represents the 13th district of pennsylvania and she is on the budget committee and the foreign affairs committee in the house. miss schwartz, thank you for joining us. congratulations on your re-election. >> thank you. >> let's go to the question that eamon just raised about capital gains. obviously of key interest to our audience and investor centered audience. do you think that capital gains tax rates ought to rise from their current 15%, and do you think as part of the bargain that they probably will? >> well, the fact is that we have not made firm decisions on exactly what goes up and what doesn't but i think what we do know and what we do feel strongly about -- and the president laid it out just yesterday -- is that we need a balanced approach. we do need some more revenues. we do need the very wealthiest among us to pay a little bit more. and so what we really need first is a willingness on the part of everyone
america's economy literally being held hostage, many say, by washington and as the clock ticks down we're holding lawmakers' feet to the fire. congresswoman allison schwartz represents the 13th district of pennsylvania and she is on the budget committee and the foreign affairs committee in the house. miss schwartz, thank you for joining us. congratulations on your re-election. >> thank you. >> let's go to the question that eamon just raised about capital gains. obviously of key...
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Nov 16, 2012
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>> our forecast is a flat economy. we think that starting second quarter we'll see in-investigation in-inversion of the stretrends and we'll sta growing. we're sure we have have introdu major changes and our potential output has switched gear. but it will take time to see it. >> and we heard one ecb board member say he expected to be gripped by this crisis for perhaps a decade. do you think it will take that listening? >> i'm more optimistic than that. i think we are living through a deep crisis clearly without press department since the second world war ii and the situation will need to progress for many years. now, i think that the crisis now with the new innovation in the crisis management and crisis tools has been a major improvement. having solved the crisis of being in sort of the almost there in solving the crisis doesn't mean that the economy now can go back to normal business. we have to go through deep changes to really face an increase in competition worldwide. so that is a long process. >> how important is
>> our forecast is a flat economy. we think that starting second quarter we'll see in-investigation in-inversion of the stretrends and we'll sta growing. we're sure we have have introdu major changes and our potential output has switched gear. but it will take time to see it. >> and we heard one ecb board member say he expected to be gripped by this crisis for perhaps a decade. do you think it will take that listening? >> i'm more optimistic than that. i think we are living...
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Nov 8, 2012
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what we need are people prepared for the careers of our new economy. by 2025, we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone's ready with the know how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> they undid the romney trades today. the stocks bought by those who believed in a romney win, whether they wanted it or not. so the question of the day s should we pick among the romney rubble? especially among the imminent fiscal cliff. the most prominent stocks affiliated with a romney win are, alas, the exact same
what we need are people prepared for the careers of our new economy. by 2025, we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone's ready with the know how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ if you think running a restaurant is hard, try running four. fortunately we've got ink. it...
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Nov 8, 2012
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find out how you can play the power transition of the world's second largest economy. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. ♪ ♪ ♪ [ male announcer ] some day, your life will flash before your eyes. ♪ make it worth watching. ♪ the new 2013 lexus ls. an entirely new pursuit. >>> welcome back to the "fast money halftime report." the company raised it's guidance for the current quarter thanks to the strong demand thanks to the chips it made, and it comes from the fiscal fourth quarter earnings of 89 cents a share revenue also beating estimates and its stock up just about 6.5%. >> every now and then you get a call that
find out how you can play the power transition of the world's second largest economy. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are...
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Nov 12, 2012
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economy been underestimated. we'll talk to a fund manager who says instead of worrying, learn to love the fiscal cliff. "squawk" will be back after a quick break. trading tools for all.ul look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! strategies, chains, positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we? open an account today and get a free 13-month e ibd™ subscription when you call 1-888-280-0149 now. optionsxpress by charles schwab. ♪ welcome to the jungle, we got fun and games ♪ ♪ we got everything you want >>> the new york jets doing the improbable by playing two games yesterday, the first in cincinnati, new york teams, the second in seattle, actually my beloved bengals beat up the defending super bowl champs yesterday who looked a lot like the jets, i guess that was the joke. they looked like the jets playing twice. this was, yeah, cincinnati took advantage of a fumble and
economy been underestimated. we'll talk to a fund manager who says instead of worrying, learn to love the fiscal cliff. "squawk" will be back after a quick break. trading tools for all.ul look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! strategies, chains, positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we? open an account today and get a free 13-month e ibd™...
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Nov 8, 2012
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we'll talk more about the economy in a minute with david rosenburg. it was pretty clear yesterday that depending on how you wanted to spin it, could you say how do you do for another four years. i don't remember any euro news in the last six months no matter how bad it was, we didn't get it free handle. so there's more to it than just europe. >> it was the fiscal cliff, but also the financials got hit so hard. if it had been romney, the cliff would be less of a deal because they would stepped all of them. so now we know and we lettered it first hand yesterday. boehner said we're open to tax increase, but part of a bigger plan that involves spending cuts. dove did a bungee -- >> worst thing i ever did. >> but it goes down and then right back up. >> the worst part is you feel like you're connected on something, but don't. it's a free fall until the very he said and then he start to feel like i'm connected to something and it throws being back into the air. >> my question is let's say that it's not a bungee, let's say it's a rope. so you jump and then yo
we'll talk more about the economy in a minute with david rosenburg. it was pretty clear yesterday that depending on how you wanted to spin it, could you say how do you do for another four years. i don't remember any euro news in the last six months no matter how bad it was, we didn't get it free handle. so there's more to it than just europe. >> it was the fiscal cliff, but also the financials got hit so hard. if it had been romney, the cliff would be less of a deal because they would...
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Nov 9, 2012
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you've got the -- >> you don't cut back on the painkiller when the economy is bad, do you? >> no. no. >> it's not safe, right? >> absolutely not. what you need here is when the economy is bad and the stock market goes down, extra shot of this, only administered through the dentist but not through the veterinarian. >> then the newer products. everyone knows when we had the flu, although this year the flu is not that bad apparently. >> well, it's not that bad also because a lot more of american population are taking the flu vaccine. we have tremendous prevention. having said that, one of the areas that henry schein built our reputation on is the notion of a sepsis control. in the late '80s when this became important and aids started appearing, we came out with handbooks for doctors and dentists explaining how they can add sterilization to their office. that is still the backbone of henry schein. >> whether we think about the runaway health care costs, there are not many companies that do much to help. you do. you cut costs. >> well, our goal is twofold. one is our goal is to insure
you've got the -- >> you don't cut back on the painkiller when the economy is bad, do you? >> no. no. >> it's not safe, right? >> absolutely not. what you need here is when the economy is bad and the stock market goes down, extra shot of this, only administered through the dentist but not through the veterinarian. >> then the newer products. everyone knows when we had the flu, although this year the flu is not that bad apparently. >> well, it's not that bad...
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Nov 15, 2012
11/12
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number one, we're going to slow the economy. we're going to slow the global economy. there will be a scarcity of high quality assets. people will rush to those high quality assets. we'll start fixing the fiscal problem. that's very good for treasury. kind of the ultimate hedge out there is the 30 year zero. >> rich, you're obviously on the ground in a very concentrated population of investors. is there any doubt in your mind that the cliff leads every discussion or is there -- i mean, is it more about this spat between the eu and the imf, the eurozone going back into recession? does anything come close to competing with the cliff talks? >> no. i spoke at another event yesterday in orlando and that was, you know, the big question all day long was about the fiscal cliff. nothing else is even close. so to that extent i think we have to realize that this is not an unknown risk and it's kind of taking on a y2k aura. you have your countdown that shows minute-by-minute counter. the fiscal cliff may turn out to be like a fiscal ditch. if it turns out to be a ditch, then i thi
number one, we're going to slow the economy. we're going to slow the global economy. there will be a scarcity of high quality assets. people will rush to those high quality assets. we'll start fixing the fiscal problem. that's very good for treasury. kind of the ultimate hedge out there is the 30 year zero. >> rich, you're obviously on the ground in a very concentrated population of investors. is there any doubt in your mind that the cliff leads every discussion or is there -- i mean, is...
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Nov 15, 2012
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economy is a return of business confidence. business confidence comes out of everybody feeling a little bit better, the tone in washington being a little bit better. i didn't see a great tone yesterday, to be frank, but when people feel better and when businesses feel better they do more, they hire more, invest more and it's cheap, you don't have to borrow to get confidence. >> is this a chickle and egg situation? >> they all are intertwined for sure. frankly a topic that has not come up, i'm concerned about the unintended consequences if we go too far with some of the proposed solutions. charitable contributions, america gets away with successfully much smaller social safety net than let's say some of our western european fellow countries and we do so because americans are the most generous people on earth. they give to the red cross, to the salvation army, to their local churches and synagogues. i'm not saying that all of that giving is driven by tax deductions but if we ratchet down tax deductibility of charitable contributi
economy is a return of business confidence. business confidence comes out of everybody feeling a little bit better, the tone in washington being a little bit better. i didn't see a great tone yesterday, to be frank, but when people feel better and when businesses feel better they do more, they hire more, invest more and it's cheap, you don't have to borrow to get confidence. >> is this a chickle and egg situation? >> they all are intertwined for sure. frankly a topic that has not...
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Nov 16, 2012
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>> we're seeing a lot of momentum in the economy. it does look like the economy after many years is finally taking hold, we're seeing households go into buying not just cars, but other big ticket items. it looks like the housing market is turning away. all these are positive. yet if this fiscal cliff does hit, then we could see a pull back and go into recession. >> even if the fiscal cliff doesn't hit, if there is a deal, it will include higher taxes and cuts to spending. my point is it's not going to be the same january 1 no matter what. so if we did see some sort of a deal, what do you think the economy can handle? >> i think right now there's a lot of uncertainty and right now the economy seems like it's really picking up. you see as i said households feel a little more comfortable opening up their checkbook. i think the deleveraging in that sector seems to be passing through and is in the final stage. we're seeing housing also picking up. and that has a lot of knock down effect. means people will get jobs, construction jobs, reta
>> we're seeing a lot of momentum in the economy. it does look like the economy after many years is finally taking hold, we're seeing households go into buying not just cars, but other big ticket items. it looks like the housing market is turning away. all these are positive. yet if this fiscal cliff does hit, then we could see a pull back and go into recession. >> even if the fiscal cliff doesn't hit, if there is a deal, it will include higher taxes and cuts to spending. my point...
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Nov 8, 2012
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it's a command economy. maybe they can pull it off. if they do it, they can take the whole world with them up, up. >> the governor hinting perhaps the data to be released tonight, tomorrow in china, will be better than expected. hinting at continuing slow growth. slow but it is growth and that's the important thing coming to china. we're getting notes and recognize there's certain china stocks. truck engines. we are seeing that last month was good. now, that's very contrary to what a lot of other retail and people saying retail commentary, distorted by the weather. but this china trade is gaining momentum, not losing momentum. at the same time that i feel that united states is losing momentum. >> interesting comments out of the boe. we knew that central banks doing nothing and governors now saying, qe which they have been pouring on for a long time, going to flatten out at the asset purchase levels and not having the impact. >> china trade. second is housing. i think they haven't done enough to be able to revitalize to be what i regard
it's a command economy. maybe they can pull it off. if they do it, they can take the whole world with them up, up. >> the governor hinting perhaps the data to be released tonight, tomorrow in china, will be better than expected. hinting at continuing slow growth. slow but it is growth and that's the important thing coming to china. we're getting notes and recognize there's certain china stocks. truck engines. we are seeing that last month was good. now, that's very contrary to what a lot...
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Nov 14, 2012
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i think it's in all sectors of the economy. i'd like to see there be an incentive for people to invest in the economy and that's going to be through capital gains tax staying low. >> although, you can look at the taxes that are going to be leveed on the wealthier people in this country and find some back and forth between nose two. there's no question that wealthier people are going to be paying more in taxes, but the question becomes the marginal rates versus the effective rates. there's a lot of ways, a lot of people who don't pay the highest marginal rates at this point because they find what we're calling loopholes and reductions is one of the biggest of those. if you're making a lot of money, you're not going to be taxed at a higher rate. make sure you're paying at least 30% no matter how much money. >> i think it makes a lot of sense. i think there needs to be adjustment there so that the wealthiest are paying a rate at least equivalent with the highest marginal rates. >> that would be okay if that ends up taking capital
i think it's in all sectors of the economy. i'd like to see there be an incentive for people to invest in the economy and that's going to be through capital gains tax staying low. >> although, you can look at the taxes that are going to be leveed on the wealthier people in this country and find some back and forth between nose two. there's no question that wealthier people are going to be paying more in taxes, but the question becomes the marginal rates versus the effective rates. there's...
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Nov 13, 2012
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economy if it goes over the fiscal cliff. ceo of edward jones which manages $635 million for 7 million clients across the country. is that billion? >> billion. >> see, and it said million. >> keep messing this up. we had jcpenney with 500 billion -- you have more money than jcpenney. >> you have individual financial advisers that have more than 635 million. >> that's correct. well, we have 7 million clients and $650 billion under our care right now. >> so how are you prepping yourself for this momentous occasion? first of all, are you handicapping that we're going over the cliff? >> i'm not willing to make the guess. our opinion is we don't need to go over the cliff. there is nothing good that will come out of it. it will hurt the economy, the markets. it will hurt employment. it will hurt the u.s. reputation. possibly our credit rating. >> if you're not handicapping what's going to happen, how are you -- >> we're helping our individual investors to stay invested, but especially be in quality and be well diversified. don't tr
economy if it goes over the fiscal cliff. ceo of edward jones which manages $635 million for 7 million clients across the country. is that billion? >> billion. >> see, and it said million. >> keep messing this up. we had jcpenney with 500 billion -- you have more money than jcpenney. >> you have individual financial advisers that have more than 635 million. >> that's correct. well, we have 7 million clients and $650 billion under our care right now. >> so how...
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Nov 9, 2012
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it makes it difficult for the economy. >> slower the economy, people aren't traveling. >> the uncertainty you get in the economy, the concern, the potential second recession would be bad for everybody, certainly bad for us. >> as an airline you're bait on how much something affects you. it might not affect general mills as much but for you. >> we're tied closely to gdp without question. >> and unemployment. >> it would be tough and very bad. it would be bad for everybody. >> do you have a game plan in terms of talking to the board saying if this happens here is what we have to do. >> if it happens ultimately the demand would fall off and we'd have to adjust capacity for it just as we do all the time. >> have you mapped out a plan? is there a deck somewhere inside united that says if x happens we do y? >> we're good at moving swiftly if we have to pull down capacity and demand. i put a low probability on it. the fact is it has a high expected value. if it happens it would be really bad. >> go ahead. i've got a different question. >> i was going to ask as far as the integration goes how far
it makes it difficult for the economy. >> slower the economy, people aren't traveling. >> the uncertainty you get in the economy, the concern, the potential second recession would be bad for everybody, certainly bad for us. >> as an airline you're bait on how much something affects you. it might not affect general mills as much but for you. >> we're tied closely to gdp without question. >> and unemployment. >> it would be tough and very bad. it would be bad...
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Nov 9, 2012
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i don't know who wants to weaken the economy. it sevens no one's interest. >> it would be disastrous. i mean all the programs get cut. there are things that get cut across everything and it makes us difficult to operate. >> we have to develop this as worried as we are. i still see this kind of grover norquist run, republican party, which would rather not have a tax inkreeks and take the ho -- this was a ka pipt lags downgrade, let me say that. i can't take it anymore, i can't take it anymore. i can't take it anymore. when you're a research department, that's what goes on. when i get up every morning, i think of cisco. >> and there's the opening bell. >>> and european consumers are looking to stretch their euro, they're coming on line to get their loyerer prices. >> i'm putting fact in our political process here, which is dangerous but think we'll get clarity. clarity is key. >>> hard to believe. we've almost made it to the end of the week. good morning. welcome to "squawk on the street." the dow up 22. s&p's getting p 6.5 back at
i don't know who wants to weaken the economy. it sevens no one's interest. >> it would be disastrous. i mean all the programs get cut. there are things that get cut across everything and it makes us difficult to operate. >> we have to develop this as worried as we are. i still see this kind of grover norquist run, republican party, which would rather not have a tax inkreeks and take the ho -- this was a ka pipt lags downgrade, let me say that. i can't take it anymore, i can't take...
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Nov 14, 2012
11/12
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it's hurting our ability to grow and grow the economy. and they want a fix of some kind as soon as possible. that's why 12 ceos are meeting with the president today. we expect the meeting around 2:30 p.m. eastern time. not sure how long the meeting will last. ceos will come out. that's why i'm here. i'll try to grab a few and get comments and what was said, did they reach any kind of conclusion on how to fix the fiscal cliff and are we any closer to getting this big problem, perhaps a trillion dollar problem finally put behind us, guys. >> it will be interesting to see how the news conference goes from obama before that. he's clearly hardening his position in asking for the revenue increases that we now learn he's asking for. he's not negotiating from the middle. as we look down this list, let's be honest with this, from an obama perspective emboldened by the election, a lot of people haven't paid a lot of corporation tax recently. a lot of them didn't vote for this man either and a lot of them actually have not created a huge number of a
it's hurting our ability to grow and grow the economy. and they want a fix of some kind as soon as possible. that's why 12 ceos are meeting with the president today. we expect the meeting around 2:30 p.m. eastern time. not sure how long the meeting will last. ceos will come out. that's why i'm here. i'll try to grab a few and get comments and what was said, did they reach any kind of conclusion on how to fix the fiscal cliff and are we any closer to getting this big problem, perhaps a trillion...
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Nov 15, 2012
11/12
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yes, the nation's largest economy is finally bottoming. that's at least according to the california legislative analysts office, which says the golden state could actually move from deficits to surpluses in two years. but voters just passed a tax hike, which will make the richest californians the highest taxed in the land and democrats now hold a super majority in sacramento. so, here at the milking cow here in california, i asked mike milken, and ueberroth says you've got to be aggressive. milken says you have a lot of research resources. you have the beach and yosemite, and it's not all about taxes. >> i think i'm in the 60% tax bracket, i figure, between federal and state. it's something i have to deal with and figure out how to operate more effectively. >> is that fair? >> i think what's the question is fair. i think as long as you have tubt r opportunity, the number one issue i don't believe is the level of taxes, it's are you business friendly. can you open? can you be responsive to business? >> private sector jobs must stay here. we
yes, the nation's largest economy is finally bottoming. that's at least according to the california legislative analysts office, which says the golden state could actually move from deficits to surpluses in two years. but voters just passed a tax hike, which will make the richest californians the highest taxed in the land and democrats now hold a super majority in sacramento. so, here at the milking cow here in california, i asked mike milken, and ueberroth says you've got to be aggressive....
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Nov 16, 2012
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i believe that this -- we can't control the economy or the stock market but we feel good about our economy and the level of interest. >> ms. lo, can you talk about who your competitors are and one of the things we've been talking about is dell is going by the wayside. sears. who are you replacing? who would i have used before and now i use you? >> we make wi-fi equipment for service providers and enterprises. our equipment is extremely reliable and easy to deploy. and now with so many mobile devices and the whole interest in mobile internet, we are helping service providers add capacity to the network. so we're actually replacing older wi-fi equipment but we're adding capacity and not replacing anything. >> so what differentiates you? i don't understand what differentiates you from much larger competitors like cisco. >> we have some unique technologies, one of which is a smart antenna system that can in realtime steer signals around interference. with the increasing number of wireless devices and number of networks out there, there is just a lot of noise in the air and everybody's work slo
i believe that this -- we can't control the economy or the stock market but we feel good about our economy and the level of interest. >> ms. lo, can you talk about who your competitors are and one of the things we've been talking about is dell is going by the wayside. sears. who are you replacing? who would i have used before and now i use you? >> we make wi-fi equipment for service providers and enterprises. our equipment is extremely reliable and easy to deploy. and now with so...
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Nov 9, 2012
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understand you won, you get those top tax rate expirations and in return we need to do something on the economy. >> guys, i love what you're saying but we've got to rise above in this country about who won and who lost. right? who cares? we're all going to lose if we don't fix it. when you look at the demographic profile of this country, right, and medicare spending and social security payments, 7,500 people every hour turning 60 years old. they're spending money on medicare, extracting probably more than they ever paid in, by far in some cases. post-obama, post-next president, whoever it is, they're looking to fix that now. >> the president was clear both today and in his budget that medicare and medicaid are on the table. tony wants social security to be on that table, too. that's worth having a discussion about. >> thank you, tony, final question to you. do the republicans have the political cajones to go to their base, the seniors and say, i'm sorry, you may not get everything you paid for because 30 years ago we didn't realize people were going to stop having kids. >> i think that's a ques
understand you won, you get those top tax rate expirations and in return we need to do something on the economy. >> guys, i love what you're saying but we've got to rise above in this country about who won and who lost. right? who cares? we're all going to lose if we don't fix it. when you look at the demographic profile of this country, right, and medicare spending and social security payments, 7,500 people every hour turning 60 years old. they're spending money on medicare, extracting...
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Nov 13, 2012
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because it looks like our economy can gain some traction. but it's immediately going to grind to a halt if we don't see something. >> you know, there's one area, there's one area that doesn't have the luxury to postpone results. and that's the military. >> right. >> and i would like to shift gears here, quickly. i know veterans day was yesterday, but we have some honor veterans here and we have some active medical sailors here from a local base. and i think that everybody's been giving them a hand. but i would like to give them a hand one more time. and if there's one thing i wish i could beam these guys to the press conference today and the press conference later in the week, because it's all about results. america thanks you for your results-oriented efforts in the greatest military of all, the u.s. military. thank all of you. and real quickly, you were world war ii, what branch of the service were you in? >> navy sea base. >> when you look at the military today, obviously, lots of technology, huh? >> oh, yeah. >> when you look at washingt
because it looks like our economy can gain some traction. but it's immediately going to grind to a halt if we don't see something. >> you know, there's one area, there's one area that doesn't have the luxury to postpone results. and that's the military. >> right. >> and i would like to shift gears here, quickly. i know veterans day was yesterday, but we have some honor veterans here and we have some active medical sailors here from a local base. and i think that everybody's...
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Nov 13, 2012
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the thing he also, again, ta talking about the global economy, he wasmaria. i'm surprised we haven't spent more time on this show because this is a guy we used to spend hours analyzing every he said. i think this -- >> this isless of a bellwether, isn't it? >> they've certainly moved into that kind of low multiple value trap tech stock, but the end of the day they are still in everybody's business and people want to know whether the federal governments are doing, what europe's doing, what air shesia doing. >>> are we about to see a flood of special dividends? dividend tax rates could soar 34.4% from the current 15% if congress fails to strike a deal. companies may be looking to reward shareholders earlier and have the cash to do it, by the way. according to goldman sachs corporate cash balances soared 55% since the end of 2007. those were non-financial companies. historically special dividend announcements tend to be concentrated in the fourth quarter. we're entering a seasonably strong period for special dividends. could this be a record year for these payou
the thing he also, again, ta talking about the global economy, he wasmaria. i'm surprised we haven't spent more time on this show because this is a guy we used to spend hours analyzing every he said. i think this -- >> this isless of a bellwether, isn't it? >> they've certainly moved into that kind of low multiple value trap tech stock, but the end of the day they are still in everybody's business and people want to know whether the federal governments are doing, what europe's...
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Nov 12, 2012
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economy and what ripple effects it will have globally. there's also of course concern about what's going to come of the eu finance ministers meeting over greece and that's going to be an impact on the markets and we have geopolitics and israel saying they won't take direct hits from syria. that is something that the market has been watching very closely as well. the big story that has long-term ramifications for the u.s. oil industry and for the global energy trade is definitely the report today from the international energy agency where they said that they believe that the u.s. will become the top oil producer in the world by 2020. overtaking saudi arabia. overtaking russia and the fact that u.s. will be self-sufficient by 2035. this is a huge sea change in the debate that we've been hearing about the dependence on foreign oil, about green energy and the fact that we're looking at this share revolution is having an impact not only on oil markets but natural gas markets here in the u.s. and international energy agency highlighting this in
economy and what ripple effects it will have globally. there's also of course concern about what's going to come of the eu finance ministers meeting over greece and that's going to be an impact on the markets and we have geopolitics and israel saying they won't take direct hits from syria. that is something that the market has been watching very closely as well. the big story that has long-term ramifications for the u.s. oil industry and for the global energy trade is definitely the report...
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Nov 13, 2012
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established the postwar contemporary market so much above any other market is fact we are not reliant on one economy. we are seeing very, very strong new emerging buyers coming out of the middle east, coming out of late.america and we have got the older collectors, very, very strong american. i think this is one of the things a bit of a fallacy you that the americans have dried up. the americans are incredibly strong and very, very seasoned in what they have about doing so they know when greatness comes. off warhol such as this, 1962, the best of class, incredibly rare, there's only one other like this, it's in the museum, the warhol museum. we are talking about something which is really a once-in-a-lifetime opportunity and people come out to bid on an object like this >> robert, let me turn to you as we take a look at jeff coops' "tulips", the estimate between 20 and 30 million. talk to me about what mr. gorvy just said, the domestic appetite for this hard asset for art is very strong, the fallacy that perhaps it's only from overseas? >> i think it has to be. look at china slowing down, art sales i
established the postwar contemporary market so much above any other market is fact we are not reliant on one economy. we are seeing very, very strong new emerging buyers coming out of the middle east, coming out of late.america and we have got the older collectors, very, very strong american. i think this is one of the things a bit of a fallacy you that the americans have dried up. the americans are incredibly strong and very, very seasoned in what they have about doing so they know when...
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Nov 10, 2012
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standing in his way, an unnecessary fiscal disaster, the struggling labor market, a global economy that's slowing and the uncertain future of our children and grandchildren. dear mr. president, when it comes to this country's financial future, you've got four years and 4 major tasks. first, the fiscal cliff. there's no time to waste. on january 1, taxes rise and government spending is cut, sending not just us but potentially the world back into a recession. next on the list, jobs. hiring is picking up, but we must do better. the middle class has been hit hard. its wealth fell 28% in the last decade. why? >> changes that were taking place in china. >> some emerging markets like china. >> china needs the united states. >> mostly by keeping its currency low, china can sell products for less than they're worth, making it hard for american companies to compete. that means fewer jobs and lower wages here in the u.s. we need a smart trade policy that protects american workers without hurting american businesses. america needs a 21st century workforce. that comes through education. to keep our pl
standing in his way, an unnecessary fiscal disaster, the struggling labor market, a global economy that's slowing and the uncertain future of our children and grandchildren. dear mr. president, when it comes to this country's financial future, you've got four years and 4 major tasks. first, the fiscal cliff. there's no time to waste. on january 1, taxes rise and government spending is cut, sending not just us but potentially the world back into a recession. next on the list, jobs. hiring is...
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Nov 10, 2012
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you have an economy that plunges. you have gdp that plunges and you don't have a way to dig out of that. >> if you do go over the fiscal cliff think don't think anyone on this program thinks will happen, really, if you do go over the fiscal cliff, you'll suffer the consequences. the world will suffer the consequences. there's no doubt. what worries me is a mini bargain that fudges the cliff for a moment but does nothing to fundamentally start to address the bigger problems. >> why would you be worried about that? >> because we're at crunch moment. i don't think getting back from the fiscal cliff is going to be that difficult. the moment the reality hits, everyone concerned, common sense will prevail. but what happens after that? >> christine? >> washington showed such terrible leadership in this. it's really horrific. ali, they say it's not going to happen. they don't know how we're going to get there. they also don't team so get even a few days off the fiscal cliff is enough to really hurt stock markets. to really hu
you have an economy that plunges. you have gdp that plunges and you don't have a way to dig out of that. >> if you do go over the fiscal cliff think don't think anyone on this program thinks will happen, really, if you do go over the fiscal cliff, you'll suffer the consequences. the world will suffer the consequences. there's no doubt. what worries me is a mini bargain that fudges the cliff for a moment but does nothing to fundamentally start to address the bigger problems. >> why...
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Nov 11, 2012
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that's where the world economy operates, sea-based trade has been organized the world economy for a very long time. >> but people would live a little bit further away from the actually water thain do now. >> there may be particular zoning issues to be sure but we have to understand great cities around the world on are on the coast and i think the great point is there's no way we're going to beat this just through adapts to the changes. we're on the path of raising the impacts so powerfully, so frighteningly that if we don't get the climate change itself under control, i don't think we'll ever catch up through patching, through these kinds of solutions, through emergency response. everywhere that i've been in recent weeks, than's usually a lot for me as i'm traveling around the world, nigeria recently, massive floods when i got there. i was in beige cbangkok recentl. i was remembering the one-year devastation when the whole city basically was under water and the economy took a terrible hit. there had been huge storms, huge sea surges, floods, not to mention -- and we should remember -- th
that's where the world economy operates, sea-based trade has been organized the world economy for a very long time. >> but people would live a little bit further away from the actually water thain do now. >> there may be particular zoning issues to be sure but we have to understand great cities around the world on are on the coast and i think the great point is there's no way we're going to beat this just through adapts to the changes. we're on the path of raising the impacts so...
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Nov 10, 2012
11/12
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raising rates is going to sow the economy. this is not the time to raise taxes in the middle of a very weak economy. okay. we understand that. what i was saying before is that they all really understand what the parameters of a macro, big deal would be. they know what you have to do with entitlements. this is not a new discussion for them. they know what you have to do with tax reform. you have simpson bowles sitting out there. what you have to do is get past this question. >> i want to play on a totally different note, a remarkable video that the obama campaign released on the morning after he won his re-election, and he gets very emotional. >> i felt that the work that i've done, in running for office, had come full circle. because you guys have done means that the work that i'm doing. i'm really proud of that. i'm really proud of you. and -- >> it's not often you see the president of the united states crying. >> we have not seen that really from him. political cartoonists sometimes draw him as mr. shock. i think it's just a
raising rates is going to sow the economy. this is not the time to raise taxes in the middle of a very weak economy. okay. we understand that. what i was saying before is that they all really understand what the parameters of a macro, big deal would be. they know what you have to do with entitlements. this is not a new discussion for them. they know what you have to do with tax reform. you have simpson bowles sitting out there. what you have to do is get past this question. >> i want to...
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Nov 11, 2012
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economy could be plunged back into recession. avoiding the fiscal cliff will require compromise, something that's been in short supply in washington over the last few years. stephen moore joins me again. john boehner, stephen, says they will accept higher tax revenues, but not higher taxes. explain that. >> it's not that complicated. we all agree the best way to bring this up is to bring the growth rate up from the 1% we've had in the last year or so. number two, when i talk to republicans, he said, look, we're willing to put these higher revenues on the table. we're willing to close the loopholes in the tax system, get rid of a lot of the car vouts that people benefit from those are rich people. i think republicans are willing to compromise on this. i have to say this. i'm frustrated wall of you on this, because yes, we have a fiscal cliff that's going to hit in january. but let's not forget the whole context of this. we are running $1.2 trillion deficits and we can't keep doing that year after year after year. we have to come u
economy could be plunged back into recession. avoiding the fiscal cliff will require compromise, something that's been in short supply in washington over the last few years. stephen moore joins me again. john boehner, stephen, says they will accept higher tax revenues, but not higher taxes. explain that. >> it's not that complicated. we all agree the best way to bring this up is to bring the growth rate up from the 1% we've had in the last year or so. number two, when i talk to...
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Nov 11, 2012
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a lot of people are nervous. >> reporter: no one expects any quick fix for the economy. >> it's big and it's going to take some time and a lot of work, and it would be nice to get at it. >> reporter: but they are more than ready to start building up again just as soon as the other washington settles down and gets back to work. tom foreman, cnn, washington, virginia. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. [ male announcer ] can a car be built around a state of mind? ♪ announcing the all-new 2013 malibu from chevrolet. ♪ with a remarkable new interior featuring the available chevrolet mylink infotainment system. this is where sophisticated styling begins. and where it ends? that's up to you. it's here -- the greatest malibu ever. ♪ >>> picture this scenario, it's a middle stages of cyclings greatest race,
a lot of people are nervous. >> reporter: no one expects any quick fix for the economy. >> it's big and it's going to take some time and a lot of work, and it would be nice to get at it. >> reporter: but they are more than ready to start building up again just as soon as the other washington settles down and gets back to work. tom foreman, cnn, washington, virginia. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our...
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Nov 15, 2012
11/12
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the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'. >>> we start the second half of the show with stories we care about where we focus on our own r reporting from the front lines. in a call with donors, mitt romney reportedly blamed his loss on gifts obama gave to minorities and young voters. first reported by the "l.a. times." romney says obama won over with two things -- and allowing those 26 and younger to remain on their parent's health insurance. he said obama's health care plan helped him with blacks and hispanics, and apologized for not winning. >>> the owner of the new england compounding center, the company whose injections have beenlinged to a meningitis out break faced questions from a congressal subcommitte
the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'. >>> we start the second half of the show with stories we care about where we focus on our own r...
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Nov 10, 2012
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maybe long term it would be okay for the economy. but, think about it. if you jump off a cliff, maybe you learn you have the ability to fly or maybe you plunge to your sudden death. if we do fall off the cliff, what is the fiscal cliff? it basically means taxes are going to go up and government spending is going to go down and we could fall into recession. if you look at the way the market reacted on wednesday following the election, the dow dropped 300 points. sort of saying, suddenly the market has to face this fiscal cliff and if we do, we fall off the cliff, it is very bad for our economy. why? because we cannot grow. even though we have all this stimulus in the system pumping money, if the economy can't grow, what does it say for our country? we're just going to be in bad shape. >> so, with the u.s.'s debt situation, though, any way to get around these tax increases? >> i mean, it's tough to say at this point. but if you look at the market reaction, almost shocking. the polls were saying barack obama was so likely to win and then suddenly when the m
maybe long term it would be okay for the economy. but, think about it. if you jump off a cliff, maybe you learn you have the ability to fly or maybe you plunge to your sudden death. if we do fall off the cliff, what is the fiscal cliff? it basically means taxes are going to go up and government spending is going to go down and we could fall into recession. if you look at the way the market reacted on wednesday following the election, the dow dropped 300 points. sort of saying, suddenly the...
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Nov 10, 2012
11/12
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roll over your old 401(k) into a fidelity ira and take control of your personal economy. this is going to be helpful. call or come in today. fidelity investments. turn here. why they're always there to talk. i love you, james. don't you love me? i'm a robot. i know. i know you're a robot! but there's more in you than just circuits and wires! uhhh. (cries) a machine can't give you what a person can. that's why ally has knowledgeable people there for you, night and day. ally bank. your money needs an ally. perform, compete and grow. and people are driving this change. that's the power of human resources. the society... for human resource management and its members know... how to harness that power, because we help develop it. from the next economy, to the next generation, we help get... the most out of business, by getting the best out of people. shrm. leading people, leading organizations. with odor free aspercreme. powerful medicine relieves pain fast, with no odor. so all you notice is relief. aspercreme. >>> is karl rove losing his touch? the man dubbed the brain of geo
roll over your old 401(k) into a fidelity ira and take control of your personal economy. this is going to be helpful. call or come in today. fidelity investments. turn here. why they're always there to talk. i love you, james. don't you love me? i'm a robot. i know. i know you're a robot! but there's more in you than just circuits and wires! uhhh. (cries) a machine can't give you what a person can. that's why ally has knowledgeable people there for you, night and day. ally bank. your money...